Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Rupiahís Rapid Decline
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Jln. By Pass Ida Bagus Mantra,
Jln. Pucuk 1 No. 70X
Denpasar, Bali
Indonesia

24h:
+62 (0)812 3819724
Tel:
+62 (0)361 464 032, +62 (0)361 471 0242

Bali Discovery

SITE PATA ASITA
Bali News

Rupiahís Rapid Decline

Decline in Rupiah is a Double-Edged Sword for Baliís Tourism Economy


Bali News: Bali, Indonesia, Dwi Pranoto, Bank Indonesia, Tjokorda Oka Artha Ardana Sukawati, Cok Ace, Ida Bagus Ngurah Wijaya, Indonesian Tourism Industry Association for Bali, GIPI-Bali, exchange rates, U.S. Dollar, Indonesian rupiah
Click Image to Enlarge

(9/1/2013)

The rapid decline in the value of the Indonesian Rupiah against the U.S. Dollar and a host of other currencies is presenting a myriad of challenges to Bali and its tourism industry.

 
That most of the starred hotels in Bali are priced in U.S. dollars is a double-edged sword. On the one hand, hotels pricing in dollar will enjoy something of a windfall in income against their Rupiah-based expenses. While, on the other hand, Bali hotels will generally become more expensive to the vast majority of their customers who do not earn their income in U.S. dollars.
 
Quoted in The Bali Daily (The Jakarta Post), Ida Bagus Ngurah Wijaya, head of the Indonesian Tourism Industry Association for Bali (GIPI-Bali), acknowledge the potential boost in hotel incomes from a strengthening dollars, but also warned that the cost of imported goods used by hotels and restaurants would also certainly increase.
 
The head of the Bali Chapter of the Bali Hotel and Restaurant Association (PHRI-Bali), Tjokorda Oka Artha Ardana Sukawati (Cok Ace), spoke of the many “bitter pills” that Bali’s tourism industry has had to swallow in recent months in the form of increased fuel and energy costs. He also highlighted the coming 2014 election for the presidency of Indonesia and House of Representatives, saying the national economic condition will be largely dictated by the developing political condition.
 
In the light of all this uncertainty, Cok Ace outlined the course ahead, saying: “What we need to do is to strengthen our promotional activities, improve our tourism products and also upgrade facilities at our tourism sites.” 
 
Dwi Pranoto, the head of Bank Indonesia’s Bali Office foresees the strengthening dollar as having a positive impact on Bali’s exports as well as tourism. Said Pranoto: “It can be considered as a blessing for exporters and the tourism sector. But for the island’s general economy,  that will slightly slow its usually robust growth.” 
 
Bank Indonesia predicts Bali would end the current year with a growth rate of between 6.6 to 7.1%. Advising a more cautious approach, Pranoto said, “We have had to evaluate and lower the economic growth forecast to between 6 and 6.5 percent.” 
 
IThe Bank Indonesia executive, Pranoto, said: “However, we must be optimistic, hoping that the island’s tourism sector will remain a powerful catalyst for its economy.”


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Promoting Meetings in Bali
11th Edition of Meet in Bali to Be Published in May. Advertising Opportunities Still Available!
(2/25/2018)
Bali Update at 20
Changes Ahead as Bali Update Enters its Third Decade and Balidiscovery.com Prepares to Launch a Revamped Website
(2/25/2018)
Slightly Higher than Target
Bali by the Numbers: Bali Ends 2017 with 5.7 Million Foreign Visitors
(2/25/2018)
Immunizing Manís Best Friend
Baliís Capital of Denpasar Undertakes Mass Vaccination Campaign on Dogs and Cats to Keep Rabies at Bay
(2/25/2018)
His and Her Excellencies Come to Bali
Foreign Ambassadors Posted to Indonesia Hosted to Weekend Tour of Bali
(2/25/2018)
Tourists with Drugs Unwelcome
German and British Citizens Arrested for Smuggling Drugs into Bali
(2/25/2018)
Russian Woman Dies at Nusa Penida
Russian Woman Dies After Plunging Down 200-meter Cliff on Nusa Penida, Bali following Motorcycle Mishap
(2/25/2018)
When a Hero Holidays in Bali
Birmingham Firefighter Comes to the Rescue of a Tourist who Fell 40-meters into a Volcanic Crater
(2/25/2018)
Hello Mudduh, Hello Faddah
Kids Go Glamping at The Ritz-Carlton, Bali
(2/25/2018)
Feeling Socially Secure in a Public Park
Indonesiaís Social Security Agency (BPJS) to Open a ĎGreen Spaceí in Gianyar, Bali
(2/25/2018)
Basa Bali, Sing Kenken
BASABali Wiki Working to Preserve and Protect Balinese Language and Culture
(2/25/2018)
Pacto Plots the Journey Ahead
Pacto Celebrates 50 Golden Years with Launch of a New Logo
(2/25/2018)
All [News]!